GBP/USD – 4H – SELL

The currency pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.

A continuation of the downtrend down to the next support line at 1.33418 is certain.

Caution: A possible change in the direction of the resistance level at 1.35577 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘StochRSI %K falls below 0.8’ indicator signal is found. The indicator shows ‘StochRSI %K falls below 0.8’. this is usually a bearish chart signal. The currency pair is likely to fall.

Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 1.334875 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 1.35577 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Three Black Crows’ candle chart pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.

1.35577 – 1.34514 – 1.34015 – 1.33418 – 1.33219 – 1.33282 —
1.35438 – 1.34791 —
74.565507202782 – 53.164964449052 —
– —
1.35577 – 1784145600

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – – – – – – – – –